What’s your pleasure? You have three options for the evening. (1) You could watch some sitcoms on TV that you are certain to enjoy and that will provide you with a relative pleasure rating of 4. (2) You could go to a movie that is supposed to be good. You would enjoy the movie with proba bility 0.5; if you enjoy it, it will provide you with a relative pleasure rating of 11, but if you don’t enjoy it, it will provide a negative rating of —2. (3) You could go on a date. With probability 0.3 you will experience a pleasure rating of 21, and with probability 0.7 the date will provide a negative rating of —2. What are the expected values of pleasure for these individual activities? List the activities in order of expected pleasure. What would you do?
Want to see the full answer?
Check out a sample textbook solutionChapter 10 Solutions
The Heart of Mathematics: An Invitation to Effective Thinking
Additional Math Textbook Solutions
Introductory Mathematics for Engineering Applications
Mathematics with Applications In the Management, Natural, and Social Sciences (12th Edition)
Finite Mathematics & Its Applications (12th Edition)
Mathematical Methods in the Physical Sciences
Using and Understanding Mathematics: A Quantitative Reasoning Approach (6th Edition)
Mathematical Ideas (13th Edition) - Standalone book
- If you perform your break-even analysis and there is more than one solution, explain how you would determine which x-values are profit and which are not.arrow_forwardAn instructor gave students the option to purchase an interactive program that allows them to answer questions during class and receive credit for participating. Alternatively, students could work an extra problem during weekly homework assignments. The instructor randomly selected 10 students, then randomly divided them into two groups of five each. One group was provided the interactive tool, the other group was asked to work the extra problem. The instructor knew from prior experience that the interactive tool increases attendance. The table below contains the final exam scores for the 10 students (on a scale from 0 to 100). Interactive: 65 78 84 88 96 Extra problem: 56 61 70 75 82 The instructor wishes to test whether increased attendance throughout the semester leads to improved exam scores. Let µ I = mean score that would be observed if all students used the interactive tool and µ E = mean score if all students worked an extra problem. The hypothesis to be tested is image: µ I…arrow_forwardJo, a store owner, has an option of selling hot drinks or halu-halo during a championship game. The profits will depend on weather conditions. On a clear day, the profits will be P 1,500 and P9,000 on a rainy day if she sells hot drinks. If she sells halu-halo, her profits will be P 10,000 on a clear day and P5,000 an a rainy day. It was learned that during the time of the year 65% of the days are clear and 35%) are rainy. What type of refreshments should the owner sell? Make a decision tree and state your decision.arrow_forward
- Fifty-eight out of 200 students are 12 or 13 years. Half of the rest are older than 13years and the other half are younger than 12 years. What percent of the students are 12 and 13? What percent of the students are older than 13? How many students are younger than 12? the fish market is selling several different kinds of fish. There are no prices listed. You ask about the prices, but the fish seller will only tell you this:• A pound of salmon and a pound of bass are $12.• A pound of bass and a pound of swordfish are $10.• A pound of salmon and a pound of swordfish are $8.• A pound of swordfish and a pound of catfish are $5.How much is each pound of fish? Show your work. (Each price per pound is a whole dollar amount.) A rectangular polygon consists of 8 squares placed side by side. If the perimeter of the rectangle is 180 inches, what is the area of the rectangle in square inches? A well is 24 feet deep and a snail climbs up 4 feet…arrow_forwardIf a salesperson has gross sales of over $600,000 in a year, then he or she is eligible to play the company's bonus game: A black box contains 3 one-dollar bills, 1 five-dollar bill and 1 twenty-dollar bill. Bills are drawn out of the box one at a time without replacement until a twenty-dollar bill is drawn. Then the game stops. The salesperson's bonus is 1,000 times the value of the bills drawn. Complete parts (A) through (C) below. (A) What is the probability of winning a $23,000 bonus? (Type a decimal or a fraction. Simplify your answer.) Carrow_forwardAn instructor gave students the option to purchase an interactive program that allows them to answer questions during class and receive credit for participating. Alternatively, students could work an extra problem during weekly homework assignments. The instructor randomly selected 10 students, then randomly divided them into two groups of five each. One group was provided the interactive tool, the other group was asked to work the extra problem. The instructor knew from prior experience that the interactive tool increases attendance. The table below contains the final exam scores for the 10 students (on a scale from 0 to 100). Interactive: 65 78 84 88 96 Extra problem: 56 61 70 75 82 The instructor wishes to test whether increased attendance throughout the semester leads to improved exam scores. Let µ I = mean score that would be observed if all students used the interactive tool and µ E = mean score if all students worked an extra problem. The degrees of freedom, using a t table…arrow_forward
- Andrew makes a game with 2 dice. If one of the numbers comes up 6, his score is the sum of the 2 numbers. If neither one of the numbers is 6, then his score is the positive difference of the 2 numbers. He throws the dices and gets a 6 and a 1. What is Andrew’s score?arrow_forwardYou planned to make an investment in a food restaurant business near your area. There are two food restaurants that caught your interest, Restaurant A and Restaurant B. Restaurant A caters to both online food delivery orders and dine-in orders while Restaurant B caters to both dine-in and take- out orders. In order for you to make a better choice, you asked about the daily sales of the restaurants for the month of February. Restaurant A February Sales 300, 250, 500, 300, 300, 250, 500, 1000, 250, 1000, 500, 250, 750, 1000, 300, 250, 750, 500, 500, 1000, 750, 1000, 300, 800, 450, 800, 450, 250. Restaurant B February Sales 150 350 500 150 150 1500 800 750 500 350 350 150 150 800 350 1500 1500 800 750 150 150 350 350 1500 250 350 250 350 Which restaurant you're going to make your investment, Restaurant A or Restaurant B? Provide justification to your answers by comparing the means and standard deviation of the sales of the two restaurants. Explain your answers briefly and be guided with…arrow_forwardIf a salesperson has gross sales of over $600,000 in a year, then he or she is eligible to play the company's bonus game: A black box contains 2 one-dollar bills, 1 five-dollar bill and 1 twenty-dollar bill. Bills are drawn out of the box one at a time without replacement until a twenty-dollar bill is drawn. Then the game stops. The salesperson's bonus is 1,000 times the value of the bills drawn. Complete parts (A) through (C) below. (A) What is the probability of winning a $20,000 bonus? (Type a decimal or a fraction. Simplify your answer.) (B) What is the probability of winning the maximum bonus by drawing out all the bills from the box? Type a decimal or a fraction. Simplify your answer.) (C) What is the probability of the game stopping at the third draw? Type a decimal or a fraction Simplify your answer.)arrow_forward
- A game consists of rolling a colored die with 3 red sides, 2 green sides, and one blue side. A roll of a red loses. A roll of a green pays $3.00. A roll of blue pays $8.00. The charge to play the game is $3.00. Would you play the game? Why or why not? Yes you should play. On any given roll the cost to play exceeds the amount you are expected to win. Yes you should play. On any given roll your expected value exceeds the amount that it cost to play the game. O No you should not play. On any given roll the cost to play exceeds the amount you are expected to win, O No you should not play. On any given roll your expected value exceeds the amount that it cost to play the game. O Yes you should play. You have a chance to win $8 and you only had to pay $2 to play.arrow_forwardThe past records of a supermarket show that its customers spend an average of $110 per visit at this store. Recently the management of the store initiated a promotional campaign according to which each customer receives points based on the total money spent at the store, and these points can be used to buy products at the store. The management expects that as a result of this campaign, the customers should be encouraged to spend more money at the store. To check whether this is true, the manager of the store took a sample of 14 customers who visited the store. The following data give the money (in dollars) spent by these customers at this supermarket during their visits. 106.13 107.43 124.68 124.88 101.17 72.75 85.45 86.05 100.4 98.84 101.63 95.56 89.40 119.52 Assume that the money spent by all customers at this supermarket has a normal distribution. Using a 2.5% significance level, can you conclude that the mean amount of money spent by all customers at this supermarket after the…arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin HarcourtCalculus For The Life SciencesCalculusISBN:9780321964038Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.Publisher:Pearson Addison Wesley,
- Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL